The index of industrial production for Hong Kong’s manufacturing industries as a whole increased by 1.8 percent in the first quarter of 2024 compared with a year earlier, according to provisional results of a survey released by the Census and Statistics Department on Friday.

The 1.8 percent increase in the index of industrial production – which reflects changes in the volume of local industrial output after discounting the effect of price changes – followed a year-on-year increase of 4.1 percent in the fourth quarter of last year, the survey results showed.

The corresponding index of producer prices, which reflects changes in the prices of local output, increased by 1.2 percent in Q1 year-on-year, following a year-on-year rise of 2.7 percent in Q4 of 2023.

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Comparing the industrial production in respect of major manufacturing industries in the first quarter of 2024 with that a year earlier, increases in output volume were recorded mainly in the food, beverages, and tobacco industries (+2.0 percent), and the paper products, printing and reproduction of recorded media industry (+0.9 percent).

Meanwhile, decreases in output volume were recorded in the textiles and wearing apparel industry (-5.5 percent), and the metal, computer, electronic and optical products, machinery, and equipment industry (-4.4 percent).

On a seasonally adjusted basis, the index of industrial production for manufacturing industries as a whole rose by 1.0 percent in Q1 compared with Q4 of 2023, the data showed.

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Comparing the first quarter of this year with a year earlier, increases in producer prices were recorded mainly in the metal, computer, electronic and optical products, machinery and equipment industry (+2.0 percent), the textiles and wearing apparel industry (+1.4 percent), and the food, beverages and tobacco industry (+1.2 percent).

A decrease in producer price, meanwhile, was recorded in the paper products, printing and reproduction of recorded media industry (-3.0 percent).